COMPANY PRE SE NT AT I ON Ma rc h 2018 DI SCL AI ME R F - PowerPoint PPT Presentation

COMPANY PRE SE NT AT I ON Ma rc h 2018

DI SCL AI ME R F ORWARD- L OOKING ST AT E ME NT S & INF ORMAT ION T his pre se nta tio n c o nta ins fo rwa rd-lo o king sta te me nts a nd fo rwa rd-lo o king info rma tio n within the me a ning o f a pplic a b le se c uritie s la ws. T he wo rds “e xpe c te d'', “e stima te d”, “sc he dule d”, “c o uld”, “a ntic ipa te d”, “lo ng -te rm”, “o ppo rtunitie s”, “po te ntia l”, “c o ntinue ”, “like ly”, “ma y”, “will”, “po sitio ne d”, “po ssib le ”, “b e lie ve ”, “e xpa nd” a nd va ria tio ns o f the se te rms a nd simila r e xpre ssio ns, o r the ne g a tive o f the se te rms o r simila r e xpre ssio ns, a re inte nde d to ide ntify fo rwa rd-lo o king info rma tio n o r sta te me nts. But the a b se nc e o f suc h wo rds do e s no t me a n tha t a sta te me nt is no t fo rwa rd-lo o king . F o rwa rd-lo o king info rma tio n is b a se d o n the o pinio ns, e xpe c ta tio ns a nd e stima te s o f ma na g e me nt o f Pyxis T a nke rs I nc . (“we ”, “o ur” o r “Pyxis”) a t the da te the info rma tio n is ma de , a nd is b a se d o n a numb e r o f a ssumptio ns a nd sub je c t to a va rie ty o f risks a nd unc e rta intie s a nd o the r fa c to rs tha t c o uld c a use a c tua l e ve nts o r re sults to diffe r ma te ria lly fro m tho se pro je c te d in the fo rwa rd-lo o king info rma tio n. Altho ug h we b e lie ve tha t the e xpe c ta tio ns a nd a ssumptio ns o n whic h suc h fo rwa rd-lo o king sta te me nts a nd info rma tio n a re b a se d a re re a so na b le , yo u sho uld no t pla c e undue re lia nc e o n the fo rwa rd-lo o king sta te me nts a nd info rma tio n b e c a use we c a nno t g ive a ny a ssura nc e tha t the y will pro ve to b e c o rre c t. Sinc e fo rwa rd-lo o king sta te me nts a nd info rma tio n a ddre ss future e ve nts a nd c o nditio ns, b y the ir ve ry na ture the y invo lve inhe re nt risks a nd unc e rta intie s a nd a c tua l re sults a nd future e ve nts c o uld diffe r ma te ria lly fro m tho se a ntic ipa te d o r implie d in suc h info rma tio n. F a c to rs tha t mig ht c a use o r c o ntrib ute to suc h disc re pa nc y inc lude , b ut a re no t limite d to , the risk fa c to rs de sc rib e d in o ur Annua l Re po rt o n F o rm 20-F fo r the ye a r e nde d De c e mb e r 31, 2016 a nd o ur o the r filing s with the Se c uritie s a nd E xc ha ng e Co mmissio n (the “SE C”). T he fo rwa rd-lo o king sta te me nts a nd info rma tio n c o nta ine d in this pre se nta tio n a re ma de a s o f the da te he re o f. We do no t unde rta ke a ny o b lig a tio n to upda te pub lic ly o r re vise a ny fo rwa rd-lo o king sta te me nts o r info rma tio n, whe the r a s a re sult o f ne w info rma tio n, future e ve nts o r o the rwise , e xc e pt in a c c o rda nc e with U.S. fe de ra l se c uritie s la ws a nd o the r a pplic a b le se c uritie s la ws. T his pre se nta tio n a nd a ny o ra l sta te me nts ma de in c o nne c tio n with it a re fo r info rma tio na l purpo se s o nly a nd do no t c o nstitute a n o ffe r to b uy o r se ll o ur se c uritie s. F o r mo re c o mple te info rma tio n a b o ut us, yo u sho uld re a d the info rma tio n in this pre se nta tio n to g e the r with o ur filing s with the SE C, whic h ma y b e a c c e sse d a t the SE C’ s we b site (http:/ / www.se c .g o v). 2

COMPANY E ME RGING GROWT H - PURE PL AY PRODUCT T ANKE R COMPANY ► F o c us o n mo d e rn me d ium ra ng e (“MR”) pro d uc t ta nke rs with “e c o ” fe a ture s Gr owth Or ie nte d ► Yo ung ta nke r fle e t o f six IMO-c e rtifie d ve sse ls - we ig hte d a ve ra g e a g e o f ~7.0 ye a rs with Attr ac tive , ► Ma na g e me nt ma y pursue a sa le o r o the r lo ng -te rm stra te g y re la ting to sma ll ta nke rs Mode r n F le e t ► L o ng -sta nd ing re la tio nships with first-c la ss c usto me rs wo rld wid e ► All MRs c urre ntly fixe d und e r sho rt-te rm T C’ s a t a vg . ra te o f $14,900/ d a y Re putable Custome r ► 47% & 20% o f re ma ining d a ys thro ug h Q2 & F Y 2018, re spe c tive ly, a re c o ve re d , e xc lusive o f Base & Dive r sifie d Char te r ing Str ate gy o ptio ns ► Po sitio ne d to c a pita lize whe n c ha rte r ra te s impro ve Compe titive Cost ► Disc ipline d fixe d c o st struc ture c re a te s g re a te r e a rning s po we r whe n ra te s impro ve Str uc tur e & ► Co mpe titive to ta l d a ily o pe ra tio na l c o sts to pe e r g ro up Mode r ate ► Mo d e ra te c a pita liza tio n with lo w c o st, lo ng -live d b a nk d e b t Capitalization E xpe r ie nc e d, ► Stro ng mg mt. te a m with 100+ ye a rs o f c o mb ine d ind ustry a nd c a pita l ma rke ts e xpe rie nc e Inc e ntivize d ► F o und e r/ CE O ha s pro ve n tra c k re c o rd a nd is a ma jo r sha re ho ld e r Manage me nt ► Bo a rd me mb e rs c o nsist o f re spe c te d ind ustry fig ure s a nd / o r with sig nific a nt e xpe rie nc e & Pr omine nt Boar d ► IMF ’ s g lo b a l a nnua l g ro wth o f 3.9% sho uld re sult in d e ma nd o utpa c ing supply thro ug h 2019 F avor able Industr y ► L o we st MR2 o rd e rb o o k sinc e 2000 with sc he d ule d d e live rie s o f a vg . 2.8% / yr. fo r 2018-19 F undame ntals ► Inc re a se d sc ra pping e xpe c te d – 5.6% o f the MR2 fle e t 20 ye a rs o ld o r mo re Cr e ate Attr ac tive ► Ne w e nviro nme nta l re g ula tio ns c o uld ne g a tive ly a ffe c t o ld e r ve sse ls le a d ing to furthe r E ntr y Point sc ra pping a nd slo w ste a ming ind ustry wid e 3

F L E E T & E MPL OYME NT OVE RVI EW POSIT IONE D F OR UPSIDE OPPORT UNIT IE S Our mixe d c ha rte ring stra te g y pro vid e s upside oppor tunitie s thro ug h spo t tra d ing whe n ra te s impro ve a nd stable , visible c ash flows fro m time c ha rte rs Ca r r ying Ve sse l T ype of Antic ipa te d Ve sse l Shipya r d Ca pa c ity Ye a r Built y Da te (1) T ype Cha r te r Re de live r (dwt) Pyxis E psilo n SPP / S.K o re a MR 50,295 2015 T ime Ma y 2018 le e t De tails Pyxis T he ta SPP / S.K o re a MR 51,795 2013 T ime Ma y 2018 Pyxis Ma lo u SPP / S.K o re a MR 50,667 2009 T ime Jul. 2018 Pyxis De lta Hyunda i / S.K o re a MR 46,616 2006 T ime Ma y 2018 No rthse a Alpha (2) K e jin / China Sma ll T a nke r 8,615 2010 Spo t N/ A F No rthse a Be ta (2) K e jin / China Sma ll T a nke r 8,647 2010 Spo t N/ A Avg . Ag e T ota l 216,635 7.0 Ye a r s 77% , 47% and 20% o f the re maining days o f Q1, thro ug h Q2 and F Y 2018, re spe c tive ly, are c o ve re d, e xc lusive o f o ptio ns mployme nt Ve sse l 2018 vie w Jan. F e b. Mar . Apr . May Jun. Jul. Aug. Se p. Oc t. Nov. De c . Pyxis E psilon $16,250 / Day Pyxis T he ta Ove r $15,000 / Day Pyxis Malou $14,000 / Day le e t E Pyxis De lta $14,325 / Day Nor thse a Alpha N/ A Nor thse a Be ta N/ A F F ixe d Char te r e r s Ope n E mployme nt Optional Pe r iod Days (1) T he se tab le s are date d as o f Marc h 9, 2018 and sho w g ro ss rate s and do no t re fle c t c o mmissio ns payab le . (2) Manag e me nt may pursue sale o r o the r lo ng -te rm strate g y fo r smalltanke rs. 4

ST RONG RE L AT I ONSHI PS IONS  BL RS  AT QUAL IT Y VE SSE L S & OPE RAT UE CHIP CUST OME T RACT IVE L E NDING T E RMS SHIPYARDS CUST OME RS SE NIOR L E NDE RS 5